About the Loan Process
There is no doubt that getting a mortgage loan is a complicated process. You would not be looking up loan information if you could get a loan in one day by filling out a simple application. We do most of the heavy lifting for you, so you can concentrate on what's important — preparing to move into your new home or saving money.
Getting a home loan involves four major steps.
Step one: Decide on your maximum loan amount
This is a function of a couple things. What kind of monthly payment are you looking for? What is the maximum you can borrow from a lender, given your income and credit history? You can get a good idea of your preferred payment abount using the calculators on our website. We'll also help you through different scenarios by asking a few simple questions. Because lender guidelines are fairly standard, we can give you a good idea of how much you can borrow after a short conversation.
Step two: complete a pre-qualification
This step is where First Southeast Mortgage Corporation will start to save you money. You will supply info on your current job, your assets, and your residence history. You'll provide information on your employment, asset, and residence history. We will get your credit report and score (only after you give your permission, of course). After we've reviewed this information, we'll give you a pre-qualificaiton letter. Be careful with this letter — it is a useful tool for buying your new home! With this letter, your REALTOR® will negotiate the best deal for your new home. While you're shopping for a new home with your agent, we find the best program for you.
Once you've made the offer and it's been accepted, it's time to complete the loan application. It's very easy, and you can do it online, right here on our website. At the end of this step, we'll order an appraisal of your new home.
Step four: funding
The agents will find a title company to handle the "funding" and closing of the sale. We'll work with this company to ensure the papers your lender needs are avaiailable, and you'll probably}likely sign everything at their officeWe work with with this company on your closing date. Because you won't need to worry about these details, you get to think about the move, paint colors, new carpet, and the fun parts of getting a new home.
You've answered some few questions, given us lots of information, applied , and Before you know it, you're moving in! First Southeast Mortgage Corporation is in the business of mortgage loans; you're not — so take care of the details. Makes sense, doesn't it??
Have questions about the loan process? Call First Southeast Mortgage Corporation at 954.920.9799. First Southeast Mortgage Corporation answers loan process questions every day.